Governor's revised budget recommendations, Senate budget targets, and second committee deadline.
Governor releases revised budget recommendations
Yesterday, Governor Walz released his revised budget recommendations in response to the February forecast, which projected a $1.6 billion state budget surplus for the FY22-23 biennium. In his revised proposal, Governor Walz maintained his recommendation to fully fund the University's $46.5 million biennial budget request.
Senate budget targets
On Tuesday, March 16, the Senate released its budget targets. The committee target for the entire higher education budget is an increase of $45 million above last biennium for a total of $3.451 billion. The Senate Higher Education Finance and Policy Committee will use this budget target to put together their omnibus budget bill for the FY22-23 biennium. The House is expected to release its budget targets next week which will set the stage for negotiations between the two chambers and the governor on a final budget deal by May 17, the constitutional mandated last day of the 2021 legislative session.
Second committee deadline
Today is the second committee deadline of the 2021 legislative session. Any policy bill introduced this session must be passed by both bodies, House and Senate, to continue in the legislative process. After this week, the legislature will shift its focus to putting together omnibus budget bills in each finance committee. The committees will have until the third committee deadline on April 9 to finalize their funding recommendations for the next biennium which begins on July 1. The committee deadlines do not apply to House committees on Capital Investment, Ways and Means, Taxes, or Rules and Legislative Administration, nor to the Senate committees on Capital Investment, Finance, Taxes, or Rules and Administration.